d. Californi, State University, phpid-4157331 9: c || D MSN.com-Hotmail Outlook,
ID: 1114674 • Letter: D
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d. Californi, State University, phpid-4157331 9: c || D MSN.com-Hotmail Outlook, Ch. 14 HW versity, Bakersfield-ECON 2018-Essentials of Microeconomics-Fall17-DEAL Activities and Due Dates Gradebook 11/28/2017 1155 PM 23 8/100 uestion 7 ot 21 Map fesA Sapling Learning Lee is a single father who can work for $12 an hour. He has 2,500 hours a year that he can divide between work and lelsure. Lee is also eligible for a new government program which guarantees e with a child a the government program Lee will lose $1 in minimvm income ot $27,000, as shown by the orange line support for every $1 he earns. What would Lee's income be if he chose 1,800 hours of work and 700 hours of leisure? Manipulate the blue line in the graph to complete Lee's labor-leisure tradeoff What extra income would Lee make if he instead chose 2,300 hours of work and only 200 hours of leisure? What economic confict or trap does this graph and question help to demonstrate? O The Safety Net Trap O The Redistribution Trap The inequality Trap The Poverty Trap O ChackExplanation / Answer
Income at 1800 = 1800*12=21600 losses 27000, income lost = 27000 – 21600 = 5400. Thus total income = 5400+21600 = 27000
At work = 2300 income = 2300*12 = 27600, income lost = 27000-27600 = -600. Thus total income = 27600-600 = 27000
The redistribution trap.
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